ER Doc Advisor - Financial Planning & Taxes for Emergency Physicians

EP 60: Year-End Financial To-Do’s

With the New Year quickly approaching, we tend to find ourselves a different type of busy with family obligations, gift shopping, and possible travel plans. Despite this, certain financial tasks need to be completed before the clock strikes midnight to not only save you headache come April of next year (AKA: tax-time), but to potentially save you tons of money as well.

So let this episode serve as your 30-day out checklist. We’ll make sure you’re aware of all the 12/31 deadline tasks you’ll want to complete this month, if you haven’t already.

Topics Discussed:     
  • Why you shouldn’t procrastinate when it comes to getting your finances in order.
  • The importance of establishing an individual 401(k).
  • Why you should pay yourself a reasonable wage.
  • What happens if you over-contribute to your 401(k).
  • Why you should make your charitable contributions before the end of the year.
  • What tax bunching is.
  • When it may make sense to make big purchases at the end of the year.

Resources Mentioned:  


planning, financial planning, ER doctor, doctors, finances, end of year, 401k, financial advice

Scott Wisniewski, EA